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Foschini in breach of credit act - NCR

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TFG CEO Doug Murray. (Supplied)
TFG CEO Doug Murray. (Supplied)

Cape Town – The National Credit Regulator (NCR) on Tuesday referred Foschini to the National Consumer Tribunal (NCT) for being in breach of the National Credit Act.

The referral follows an investigation by the NCR, which revealed Foschini charged consumers a club fee on credit agreements.

“The club fee charged by Foschini is reflected in consumers’ credit agreements,” the NCR said in a statement on Tuesday. “The charging of a club fee on credit agreements is not permitted by the National Credit Act.”

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